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Trusts

This category contains 210 posts

Relic from the past lives on

The application for leave in Little v Little (see A Little guidance on s 182) has been denied by the Supreme Court. the prime thrust of the appeal was that the trust in question was not a nuptial settlement. Reference was made to Te Aka Matua o te Ture/Law Commission (the Law Commission) recommendation that … Continue reading

Anathema to a trust

Transferring assets that might otherwise comprise relationship property to a trust, might appear an attractive alternative to “I love you” but not enough to share my stuff with you. However, even if the relationship is not yet a qualifying relationship for the purposes of the Property (Relationships) Act 1976 (the Act); dispositions to trust can … Continue reading

No fraud here

Legler v Formannoij relates to a spirited challenge to the appointment of a corporate trustee to act as the sole trustee of a trust. The arguments put to the court included the contention that this was a fraud on a power as the director and one of the two shareholders was formerly a trustee and … Continue reading

It’s mine said the trustee, all mine

The background to the appeal in Lambie v Addleman is encapsulated in [8] and [9] of the decision where the Supreme Court states as follows: The factual background is set out in Whose advice is it?; Rights to information prevail; and Disclosure request declined – 24 years a leap too far for a beneficiary who … Continue reading

Turning of the tide?

McGuire v Earl is a successful application for the following trust information: statements of accounts copies of all Minutes and Resolutions any documents pertaining to any distributions all documents pertaining to any gifting or debt incurred, and bank statements for all bank accounts. The trust in question was settled by Mr McGuire’s father and Mr … Continue reading

No notice of trust

Section 153 (set out below) of the Land Transfer Act 2017 provides that no notice can be given on the land title register that land is held on trust. 153       Trusts not to be entered on register (1)        Notice of a trust, whether express, implied, resulting, or constructive, must not be registered or noted on … Continue reading

Null and void

The background to Hamilton v Kirwan can be set out as follows: A 58.9450 hectare block of rural land (the Property) was purchased in 1984 In December 1997 the Property owner’s daughter began living on the Property.  In 2000 she built a dwelling on the Property part of which was funded by a $20,000 advance … Continue reading

Family First to keep the home fires burning

In the first significant decision since the Supreme Court decision in Greenpeace the majority of the Court of Appeal has allowed the appeal in Family First New Zealand v Attorney-General against the decision to de-register it as a charity.  The High Court had previously considered that Family First did not qualify for registration as its … Continue reading

Invalidity upheld

Webb v Webb relates to whether a tax debt owed by the former husband in New Zealand is enforceable in the Cook Islands, and what that means in the context of the division of matrimonial property in the Cook Islands; the validity of two trusts settled on somewhat unusual terms; and valuation considerations when a … Continue reading

Disclosure denied

In Jacomb v Jacomb Cooke J provides a considered assessment of disclosure in the context of a troubled and disenfranchised beneficiary. The case highlights the need for careful analysis of facts when seeking disclosure, the relevant principles, and importantly given that the Trusts Act 2019 will come into full force and effect on 30 January … Continue reading

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